Salt Lake Tribune | 1915-11-10 | Page 12 | Bears Beat down Prices of Wheat

BEARS BEAT DOWN raCESOF WHEAT Corn Also Is Lower, With Oats at a Standstill; Provisions Pro-visions Are Off. CNrCAGO, Nov. 9. Ripid enlargement of stocks, both domestic and foreign-tended foreign-tended today to stimulate bearish sentiment senti-ment regarding wheat. The market closed nervous, (a'lc to l(5ilc net lower, with December at $1.02 and May at Sl.OSi Corn showed a loss of 1-lSc for December, but J.4'5,c advance for May; oats finished unchanged to c lower and provisions down Tc to 35c. Unloading by owners of wheat took place as soon as figures were posted disclosing dis-closing a big increase in the world's available avail-able stock. The bulls had previously been handicapped by liberal receipts at the chief terminals northwest and southwest south-west of here, but the selling became more pronounced and was only a little relaxed in the dealings near the end of the session. ses-sion. Forecasts of showers that would tend to improve the condition of the newly-seeded winter crop formed one of the main elements adverse to any important im-portant rally. Breaks in the prke of wheat were followed fol-lowed by reports that as a result farmers in Nebraska a nd the northwest showed slgiiB of adopting a policy of holding back consignments. Traders friendly to an advance derived a minor degree of comfort also from word that estimates of the Argentine exportable surplus would have to be cut, owing to damage done by d rough t. Corn developed comparative slrength, influenced by opinions that, measured by feeding value, the total domestic yield this season was but slightly above the crop of 1914. Judged by the same standard, an actual shortage was said to be indicated indi-cated for the surplus states. Oats held about steady. Offerings were absorbed by houses that usually act for the seaboard. Provisions gave w4iy with hogs. Transactions Trans-actions were almost entirely confined to packers and stock-yard speculators. RANGE OF THE LEADING FUTURES. Open. High. Low. Close. Wheat-Dec Wheat-Dec ?1 .02U $1.02 $1.01 $1 .02 May .... 1.03 1.04 1.03 1.034 Corn 1 Dec 59 .39H .KS .59 Mav 61 H .62V4 .61 -61 Oats-Dec Oats-Dec r?8i-a .3 .3S .38 May 39H .39 .39 U .39 Pork-Dec Pork-Dec 14.50 14.50 Jan 16.30 16.35 16.27 16.30 Lard Jan 9.05 9.07 8.97 9.00 Mav 9.12 9.20 9.02 9.05 ! Ribs-Jan Ribs-Jan 8.90 8.95 R.S7 8.92 May 9.15 9.15 9.05 9.07 CASH QUOTATIONS. YVhpat. No. 2 red, nominal; No. 3 red, S1.04f3t.09; No. 2 hard, nominal; No. 3 hard, 972,'5 51 .05. Corn, No. 2 yellow, old. 64 c; No. 2 white, old, 63c; No. 3 yellow, new, 60 fgiRlc; No. 3 while, new, FifffrSOc. Oats, No. 3 white, Zd(qiZIMc; standard, Rve, No. 2, $1.00. Parley. 5i64c. Timothy. S5.00rt18.Of). Clover. ?m.nij(5 20.00. Pork, $14.50. T.ard, $S,90. Ribs, $10.12fo m.62.